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of political capital. we remember the famous line george w. bush delivered saying i've earned political capital and i'm going to use it -- or spend it, rather. how much political capital did this president earn in his first term? i want you all to weigh in on that quickly. >> i think it was manifest in the fact that he got re-elected by a rather decent margin. even an opposition party who reads election returns that may mean something but after the fist year it means less and less. the result is if a president is more and more frustrated in congress, what second-term presidents have tended to do is, one, try do more by executive action, as president obama is already trying to do with gun control, and the other thing is they get more involved in foreign policy than perhaps before because that's something they could do without consulting congress every hour. >> the death of osama bin laden was huge. and that gave him an enormous amount of political capital. but there are so many things that he can't predict. i mean with ronald reagan, he had iran/contra, and that really pulled -- you talk about b
it. >> reporter: despite that pledge in 2004, george w. bush's second term was marred by a slew of bad headlines from escalating violence in iraq to his administration's response to hurricane katrina. >> doing a heck of a job. >> reporter: still second terms can offer a shot at redemption. take reagan paving the way for the end of the cold war. >> mr. gorbachev, tear down this wall! >> reporter: humor can also go a long way, like when bill clinton with a little help from his wife mocked his own lame-duck status. with this unforgettable video from his final months in office. >> i really think bill has everything under control. >> wait, wait, wait, wait! >> reporter: and of course depending upon what happens four years from now it may well be bill clinton making more lunches for his wife as she could potentially be among those vying for a chance to call the white house home. but as it comes to the second-term agenda for the president, the first thing at the top is complete your remarks for tomorrow's inaugural address, roughly 24 hours from now. we are told by valerie jarrett, one
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